The cryptocurrency mining firm Hive Digital Applied sciences has revealed plans to broaden its world presence by a brand new acquisition of property and an information middle in Boden, Sweden.
On Nov. 27, the corporate introduced that it entered a property switch settlement with Turis AB to take over the property of an information middle beforehand constructed as part of the European Union’s Horizon 2020 challenge.
Hive stated this new property is in “shut neighborhood” to its present information middle in Sweden, and it plans to additional develop the ability in its portfolio. It says the property will even home its incoming era of ASIC servers and improve its Bitcoin (BTC) manufacturing.
Johanna Thornblad, Hive’s nation president for Sweden, stated:
“The brand new information middle will allow HIVE to develop its regional footprint whereas additional demonstrating its dedication to its ESG focus, sustainable practices, environmental duty, and vitality effectivity with its latest “inexperienced” vitality powered information middle.”
Hive owns and operates information middle services in Canada, Sweden, and Iceland, and it promotes using inexperienced vitality to mine digital belongings resembling BTC on the cloud.
Cointelegraph has reached out to Hive for extra data on the event.
Associated: Bitcoin ASIC producer Bitmain pauses worker wage funds: Report
Earlier in 2023, Hive dropped the phrase “blockchain” from its official identify to replicate its “evolving focus” on monetary alternatives in synthetic intelligence (AI), cloud computing and graphics processing models (GPUs).
The corporate then stated it plans to make use of its 38,000 Nvidia GPUs to supply small and medium-sized companies a extra environment friendly different to main cloud service suppliers.
The CEO of Hive, Aydin Kilic, and its chairman, Frank Holmes, informed Cointelegraph in an interview that the pivot towards AI doesn’t negate or reduce its involvement in Bitcoin and crypto mining. As an alternative, they stated the corporate continues to be closely concerned however that “blockchain and AI can definitely co-exist” and stay “pillars of Web3.”
In September, Hive was one of many mining firms concerned in launching the Digital Energy Community (DPN), which is a coalition affiliated with the Chamber of Digital Commerce to emphasize the significance of proof-of-work (PoW) mining.
Journal: That is your mind on crypto: Substance abuse grows amongst crypto merchants
